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CNBC
Dec 24, 2012 12:00pm EST
after the election when we don't get a deal. this comes home. people don't realize what this is going to do. this is not healthy. this is not good. so what we're going to get is this wakeup call and i think people are getting a gift right now, opening the screens, take some off the table. at least place protective stops so you know where you will get out. >> rick santelli, is that how you read the message of the market right now? >> you know, i think the market's major movement with regard to the lack of a solution on the fiscal cliff has been more of what we've seen not more of what we think we're going to see. i'm referring specifically to some of the special dividends, some of the tax issues, some of the buy backs, some of the way, you know, states and trusts are being manipulated and moved to deal with the potential worst case scenarios. i think in terms of the market our guests just referred to some of the volatility. you know, as congress called it a day or as the boehner bill didn't pass the plan b. but i remember the t.a.r.p. vote. that was some real movement. >> yes. >> we di
CNBC
Dec 31, 2012 3:00pm EST
washington the same old finger pointing and blame game. and right after the election, i really was hopeful that members of congress would be able to come together and work out these hard issues. we're not there yet, but the fight's not over in that these debt problems are still there facing us. we'll have to go back to january and get into entitlement reform. the job is not close to finished. whatever debt deal they pass today, they agree they come back as quickly as possible and work out these challenges. because the economy will not grow in any meaningful way until we add the stability and certainty of tackling challenges. >> with all due respect, did upg the 112th congress was going to come together on a grand bargaining? >> i was hopeful. leadership starts at the top. i haven't seen much leadership in this town. one thing that happens at the end of the day is we go crashing through this debt ceiling which to me represents the real issue, the real fundamental challenge is we're running $1.3 trillion deficits, been doing that for two or three or four years. these taxes will not change th
CNBC
Dec 26, 2012 3:00pm EST
of the year was june 19th. that's the day of the second greek election when that guy came in who did not take them out of euro to. meet biggest things that happened this year were things that didn't happen. no greece exit, no china hard landing and no u.s. slipping into a recession. therefore, the market has been able to lift. >> the last thing that may not happen is the fiscal cliff resolution, too. that could throw an iron in the fire. we've all got to be mindful of the possible debt downgrade. moody's and fitch are still at aaa and they have been rumbling they might take us down, and i think if s&p goes down a notch, mandy, that's not good for the market. >> the fact that these predictions did not come true i guess show that making predictions -- >> it shows the value of strategists. >> okay. >> it shows the value of vat jists. >> what are you predicting for 2013? >> i think you have to watch things in europe. the big day is the september 11th elections in germany and germany could be harder after the election. in the first half is the sent ceiling discussion and finally profits,
CNBC
Dec 27, 2012 3:00pm EST
elected officials to figure this out. come up with a reasonable compromise that keeps our economy growing and gives us some certain about the future so we can make our plans as business leaders. mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. >>> fiscal cliff fears pushing stocks lower but we're well off those lows right now and news that the house will reconvene on sunday evening at 6:30 p.m. eastern time. let's get to seemor, modi with more on this. >> hi, mandy, off of our lows, but today a risk-off approach to trading. that's a strategy being used as wall street is waiting by for the latest on the fiscal cliff negotiations. interestingly enough when you look at the year-to-date performance of the major indices, the nasdaq is the
CNBC
Dec 26, 2012 4:00pm EST
year despite it being an election year, despite the fiscal cliff and ongoing problems in europe. the market has done better than it has usual done. what's changed? i think there will be continued political turmoil and slow growth but that's, particularly given valuations, may not be a bad year for equities as all. >> i'm going to add to that list having been a good year for the stock market. also had a lot of recovery in the housing market as well. do all these good things, all this progress become undone if we go over the fiscal cliff. >> i think clearly we've seen some healing in housing which is great and as has already been said we've seen some good progress over in europe and in china so that's all great. i'm neutral on equities in my allocation strategy fund, target rich funds and the reason for that is the fiscal cliff. if we go over the fiscal cliff then i think that given how lean companies are, and as slow as we're growing, we could see the economy dip back into recession and earnings estimates will have to go lower. >> the mastercard report on retail sales not good. the wo
FOX Business
Dec 26, 2012 3:00pm EST
. ashley: aren't you concerned about continued volatility in that area? italian elections coming up in february, german elections not far behind that, has to be seen whether angela merkel can survive that. does that give you cause for concern? >> there is no question about that. every election that has happened in the last two or three years, the incumbent has been evicted from office. you can worry about angela merkel, our guess is she is doing other than the rest of them and will survive, there's plenty to worry about that is what makes overall the market depressed and therefore attractive. ashley: you like the auto sector and insurance, tell us a little bit about that. >> insurance kind of our chicken way of finance. we are not comfortable with the euro banks we think the insurance companies are in much better shape, they came off of catastrophic losses last year so the p/e ratios are a little higher than they appear. not as high as they appear rather. this year or next year's estimate fairly reasonable and they mentioned a four and .5% yield roughly, it is an attractive package.
CNBC
Dec 27, 2012 4:00pm EST
speakers's number one goal is to get elected speaker on january 3rd. the house is not even here. he's told me it will give him two days to get back here, not two days, 48 hours. they don't even have enough of the leadership here to meet to talk about it. they have done it with conference calls. people are spread all over the country because the speaker is basically waiting for january aboutrd. now, the president campaigned on raising taxes on people making more than $250,000 a year. the bush era tax cuts will expire at the end of this year. obama was elected with a surplus of about 3 million votes. he won the election. he campaigned on this issue. again, the speaker can't take yes for an answer. the president has presented to him something that would prevent us from going over the cliff. it was in response to something the speaker gave to the president himself, but, again, i guess with the dysfunctional republican caucus in the house even the speaker can't tell what he's going to do because he backed off even his own proposal. mr. president, the house, we hear this so often, is controlled by
FOX Business
Dec 28, 2012 3:00pm EST
hundred points, but back in the same place for a couple weeks. the weeks before the election, everybody talked about the fiscal cliff, and until they really put this deal together fully and for the long term, it's the same thing going out into the next year. ashley: it's interesting. what if nothing is done? what reaction do you expect there, bobby? >> if nothing's done, i think we'll have the reaction like we have now. i don't know if they'll be able to have an announcement before sttcks close at four o'clock, but everybody is sitting with hands tied behind the back for any news. ashley: dan at the cme. dan, i want to talk gold. it's interesting, gold down eight or nine bucks on the day, and you think it's a safe haven play, but is it the profit takers trying to get ahead of higher tax rates to pay? >> it's possible, but i believe people think there's no grand bargain here. if they come to grips with a plan, the plan they talked about is tax rates. obviously, that's good, a nice headline, but that doesn't stop the sequestering io themes in play. if they are in play, that's d
FOX Business
Dec 27, 2012 3:00pm EST
markets down to 1250 which we get resolution because we know our elected officials only seem to act under duress and market might lead them to do that. subsequently we get pickup in activity that leads us back to year-end figure of 1400, a little below where we are today. ashley: want to get to this. microsoft has not exactly been a great investment over the years. surface tablets, getting a lukewarm reception. pc market, you could argue is dying. what on earth makes you want to go with microsoft? >> the stock, while having had many false starts admittedly is exceedingly cheap. you're talking about a company asset rich. you know, and, generates $9 billion of free cash flow a quarter. ashley: yeah. >> sitting on 50 billion in cash. pay as pretty handsome yield north of 3% which you expect to see continuing to increase going forward. we think because it is such a labyrinth if you will of businesses some of which are in businesses that are new like smartphones and tablets we think he have they have the ability to enure themselves to growth. ashley: thank you, mark. janney montgomery sc
FOX Business
Dec 31, 2012 3:00pm EST
elected officials and have to answer to our viewers. thank you. let's get right to the markets. it is quite obvious that the markets are being held hostage you could say to what is happening right there in washington d.c. the traders are on the floor watching moment by moment. the new york stock exchange, cme, and the nymex. you just heard the representative. we have to wait for the senate. we cannot do anything into the senate comes out. what i noticed was 12:30 p.m. eastern when it was announced the president was going to speak the markets took off. when the president spoke the moderated and now we're back up and running. what are you seeing and how important is it? >> first of all, let the volume. continues to be low. i think we are getting -- this morning we had a bit of a technical rally. a massive short-covering. people want to go home in case we do is some kind of a deal. liz: but looking at, for example, the nasdaq. this is a decent job of close to two percentage points. it looks like people are at least trading. there has to be that feeling positivity. >> the president was
Search Results 0 to 9 of about 10